Question

a lady bargained with the shopkeeper and get 30 discount from the marked price, which results in a loss of 16% to the shopkeeper. The shopkeeper then decided to increase the market price of similar products such that he will never get profit or loss even after giving 30% discount. His new market price will be approximately what percentage more than his initial market price.

Answer 1

Answer:

The marked price of an article is Rs. 4,000. If the price of the article including 13% VAT is rs. 3,616, what is the discount percent given in it?

Let R% denotes the required discount percentage given on the marked price of the article.

Hence from above data we get following relation,

(1 +13/100)*(1 - R/100)*4000 = 3616

or 113*40*(1 - R/100) = 3616

or 1 - R/100 = 3616/113/40

or 1 - R/100 = 4/5

or R = 100/5 = 20

Therefore from above it is evident that the discount percentage

given on the marked price of the article is 20%. [Ans]